each proprietary message into one standard message model , communication between different organisations is , therefore , significantly enhanced , ensuring that each solution – in and outside the bank – can seamlessly connect and exchange data .”
He suggests that community banks should also form an ecosystem with their peers , alongside fintechs , service providers , and aggregators , helping them when it comes to the speed they can introduce new products , which in turn will support the customer experience .
An effective ecosystem strategy , he adds , will mean these banks can better serve their customers , creating an opportunity to drive better experiences by providing the speed , scale and differentiated products that make the most of the opportunity presented by the significant shift to digital banking . “ If
“ They need to communicate their commitment to their communities ... by only supporting their defined geographic market ”
ANDY COPSEY NON-EXECUTIVE DIRECTOR , ABL
98 September 2022